Finance news sponsored by SBTech

Alongside publication of its latest quarterly results this morning, Sportingbet plc confirmed that it has stopped accepting bets from French citizens while it applies for a local licence, but said that it is unlikely to be able to satisfy French regulatory requirements until 2011.

In a huge boost to horse racing in New York, the state's legislature has approved a $25m loan to the New York Racing Association (NYRA) which guarantees thoroughbred racing at Belmont Park, Saratoga Race Course and Aqueduct Racetrack until next year.

For the second time in twelve months, Betsson executives have been invited to preside over the Nasdaq bell ceremony at the Nasdaq MarketSite in New York's Times Square.

Despite a record year during which profits rose 4 per cent to CHF192.6m (€134m), Switzerland's Loterie Romande (LoRo) has warned that it will no longer be able to guarantee the level of profits distributed to the six cantons of Switzerland following the decision by the Swiss Federal Council to support the country's casino sector.

Irish bookmaker Paddy Power plc said ahead of its annual general meeting today that trading in the first 19 weeks of 2010 has been very strong online with sportsbook margins returning to normally expected levels, helping to offset a decline in the amounts staked through its retail and telephone channels.

Rank Group said Friday that it has received repayments from Her Majesty's Revenue and Customs (HMRC) amounting to £42.5m in VAT overpaid on revenue from main stage bingo and amusement machines.

The future of horse racing in New York is in jeopardy after the New York Racing Association (NYRA) warned Monday that it may be forced to shut down operations within three weeks, with the company now reliant on money from the state to help it through to the Belmont Stakes next month, the final leg of the Triple Crown.

Shares in Leisure & Gaming plc have been temporarily suspended this morning on London's AIM market pending clarification of its financial position, after the company warned that it was constrained by a lack of working capital as a result of continued low margins from sports betting during the year. Limited has reported a net loss of $344,806 for the first quarter of 2010, the company's fifteenth consecutive quarterly loss, despite reducing cost of sales and operating expenses as a result of the change in software platform to Unibet's partner programme.

Live TV gaming specialist NetPlayTV plc said Thursday that gross bets for the first quarter of 2010 amounted to £166m, an increase of 6 per cent versus the previous quarter, as the company benefited from partnerships with UK terrestrial broadcasters including STV and Five.

Spanish gaming group Codere S.A said Friday that earnings for the first quarter of 2010 reached €54.4m, exceeding the company's previous guidance range of €48m to €50m, following a marginal increase in revenues during the period.